Trump says he has asked USTR to identify $200 billion in Chinese goods for additional tariffs at 10% rate

Trump says he has asked USTR to identify $200 billion in Chinese goods for additional tariffs at 10% rate

President Donald Trump has requested the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent. The new duties will go into effect “if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced,” the president said in a statement provided by the White House late on Monday. The move came…

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Trump fires back at Beijing with threat of new tariffs on $200 billion in Chinese goods

Trump fires back at Beijing with threat of new tariffs on $200 billion in Chinese goods

President Donald Trump has requested the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent. The new duties will go into effect “if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced,” the president said in a statement provided by the White House late on Monday. The move comes…

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Asian shares mixed after Trump’s latest trade comments; yen strengthens

Asian shares mixed after Trump’s latest trade comments; yen strengthens

Asian stocks were mixed in early Tuesday trade after U.S. President Donald Trump fired a fresh salvo in the ongoing trade spat between the U.S. and China. Trump said on Monday that he had asked the U.S. Trade Representative to identify $200 billion worth of Chinese products that will be subject to additional tariffs of 10 percent. Those tariffs will take effect if China did not “change its practices,” Trump added in a statement. Asian…

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Asian shares poised to edge higher despite trade jitters; oil prices rise

Asian shares poised to edge higher despite trade jitters; oil prices rise

Asian stocks looked set to edge higher on Tuesday despite continued investor concerns about a trade war between the U.S. and China. Nikkei futures traded in Chicago were higher by 0.06 percent compared to the benchmark’s Monday close. Australian SPI futures were up by 0.57 percent at the end of the last session. U.S. stocks mostly fell on investor jitters over a looming trade war between the U.S. and China. Monday’s declines came after the…

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Acting DEA head Robert Patterson says he plans to retire

Acting DEA head Robert Patterson says he plans to retire

The Drug Enforcement Administration’s acting head, Robert Patterson, has announced he plans to retire near the end of June, a spokesman told CNBC Monday. Patterson said Monday afternoon in an internal email obtained by The Washington Post that planning for the future had become “increasingly challenging in an acting capacity.” In that email to DEA employees, Patterson reportedly wrote, “Since taking on the role of acting administrator, I have known that a permanent replacement would…

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Justice officials challenge Trump’s claim that report about Clinton’s email probe ‘exonerates’ him

Justice officials challenge Trump’s claim that report about Clinton’s email probe ‘exonerates’ him

The top watchdog at the Department of Justice and the director of the FBI on Monday refuted President Donald Trump‘s claim that a Justice Department report made public last week “totally exonerates me.” Trump had claimed upon release of the more than 500 page report on Friday that it cleared him of any collusion with Russia during the 2016 election or any obstruction of justice after the election. However, Justice officials begged to differ, noting…

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Elon Musk sent an email to Tesla employees about another fire in its factory on Sunday

Elon Musk sent an email to Tesla employees about another fire in its factory on Sunday

Tesla continues to struggle with fires at its electric vehicle plant in Fremont, California, according to correspondence reviewed by CNBC on Monday. Tesla CEO and chairman Elon Musk sent an email to employees on Monday morning explaining that the factory had to stop their “body production line” for several hours on Sunday night due to a “small fire.” On this part of the line, a car body’s sheet metal has been welded together but the…

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Market in ‘earnings void right now,’ but it will bounce back, says investor

Market in ‘earnings void right now,’ but it will bounce back, says investor

Stocks fell Monday with the Dow’s losing streak stretching to five days as trade tensions linger. But investor Doug MacKay told CNBC it’s only temporary. “We’re in what I would call an earnings void right now, which means all the companies from the quarter have passed through earnings,” said MacKay, founder and CEO of Broadleaf Partners, an investment management firm. “We’ve got a few more weeks now before the earnings engine starts to pick back…

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Commerce chief Wilbur Ross’ financial holdings get new scrutiny in report highlighting short sale

Commerce chief Wilbur Ross’ financial holdings get new scrutiny in report highlighting short sale

Commerce Secretary Wilbur Ross last year owned stakes in companies co-owned by China’s government, a shipping firm linked to Russians that he later short sold days before his own controversial ties to it were exposed — and also held more than $10 million in stock of his former employer Invesco despite earlier swearing he had divested his financial holdings, a new report said Monday. While Ross last November told the U.S. Office of Government Ethics…

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House Republicans face tough vote, especially in districts with large foreign-born populations

House Republicans face tough vote, especially in districts with large foreign-born populations

House Republicans — especially in districts with a large share of foreign-born voters — face a tough choice on two immigration reform bills expected to come to a vote later this week. To see how foreign-born voters might influence that vote, CNBC compared the latest census data with a recent petition signed by House members to try to force a vote on the issue. The so-called discharge petition, which last week fell two votes short…

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